JACKSON, MI – Michigan Gov. Rick Snyder will be in downtown Jackson on Monday for the official launch of the Anchor Initiative.

The Consumers Energy-led initiative aims to promote downtown Jackson as a hub for business development and a place to live for young professionals.

The launch, dubbed "Anchors Aweigh," is on tap for 9 a.m. Monday, May 19, at Bucky Harris Park on the corner of Michigan Avenue and Jackson Street. The event is open to the public.

Consumers Energy and more than 20 other businesses have made various levels of commitment to the effort that promotes downtown growth. Officials at the utility announced this month they will provide their employees a $100 a month stipend to live in the downtown Jackson district.

Snyder, along with Consumers Energy CEO John Russell and other business leaders, will brief those in attendance on the initiative.

Russell will offer details about plans for the former Woolworth Building, which the company recently purchased as an innovation center to cultivate business development and house the initiative's headquarters.

"Each anchor has committed financially on different levels to move the program forward," said Patti Poppe, Consumers Energy Vice President, at a luncheon earlier this month.

Poppe will give a short address at the Anchors Aweigh event Monday. The program will last about 30 minutes, utility officials said.